CPPIB-backed 407 International to issue $250 mln in notes
407 International Inc, the operator of Ontario toll highway Highway 407, has agreed to issue $250 million in senior notes through its $1.8 billion medium-term notes program. The deal will be processed by a syndicate led by RBC Dominion Securities Inc and BMO Nesbitt Burns Inc. The proceeds will be used to fund a series reserve account, repay debt and other priorities. 407 International is owned by Ferrovial SA, Canada Pension Plan Investment Board (CPPIB) and SNC-Lavalin. CPPIB struck a deal in 2010 to acquire its 40 percent interest.
21 March 2017•2 mins read
